[Chart courtesy of MarketWatch.com] Moving the markets As expected, the Fed left interest rates on hold but indicated that they have no plans for any changes through the end of 2020. In fact, the assessment of the economy was more upbeat, which caused market sentiment to remain cautious. Powell reiterated that the “current stance of monetary policy is appropriate” to …
Limping Lower
[Chart courtesy of MarketWatch.com] Moving the markets Bobbing and weaving best describes today’s session with the major indexes being stuck in a sideways pattern after rebounding from an early dip. The latest news from the US-China trade debacle points to some progress in that trade negotiators are “laying the groundwork for a delay” of the new 15% import tariffs scheduled …
Taking A Breather
[Chart courtesy of MarketWatch.com] Moving the markets Despite several attempts, the bulls were not able to sustain Friday’s upward momentum, and the major indexes pulled back to close moderately in the red, but the dive into the close could be cause for concern. Trade negotiations were in focus again ahead of the looming deadline on US-China tariffs, along with …
Shrugging Off Trade Dispute Concerns
[Chart courtesy of MarketWatch.com] Moving the markets An early morning pop gave way to a drop, which gave way to a slow but steady recovery with the major indexes managing to reclaim their respective unchanged lines by a small margin. What caused the comeback? Nothing noteworthy, other than a China trade spokesperson uttering the words that computer algos thrive on, …
Recovering Lost Ground
[Chart courtesy of MarketWatch.com] Moving the markets Today was reversal day, as the trade soap opera story was changed again based on an unsourced rumor that a phase-1 deal was still in the works. Even though nothing of substance was offered, it was enough hope for the computer algos to shift in reverse and pull the markets out of the …
Torpedoing The Markets: Stocks And Bond Yields Tumble
[Chart courtesy of MarketWatch.com] Moving the markets As I pondered yesterday, the While House indeed fired the next salvo about the trade talks, but it was not what the markets expected. Stocks got hit hard when Trump announced that the idea of holding off on a US-China trade deal until after the 2020 election was appealing. This undermined confidence and …